Fitch shifts Blue Racer view to negative

Fitch Ratings said it revised the outlook for Blue Racer Midstream LLC to negative from stable.

“The outlook revision reflects the uncertainty over volume flows as the producers cut capital spending and reduce drilling activity. The actions on Blue Racer’s processing operations occur in a context of certain members of OPEC+ effectively changing the policy of withholding production to maintain relatively stable oil prices,” said Fitch in a press release.

Fitch said it also affirmed the company’s long-term issuer default rating of BB- and the BB-/RR4 rating to Blue Racer’s senior unsecured notes due 2022 and 2026 co-issued with Blue Racer Finance Corp. Additionally, Fitch affirmed the BB+/RR1 rating on the $1 billion senior secured revolving credit facility.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.